An Alumni and Volunteer Corporation (AVC) is responsible for managing and growing the assets of the chapter. Both alumni and undergraduates make significant investments to create and maintain an ideal fraternity experience. If properly managed, these assets will grow over time to a point where a chapter has the financial stability to weather any difficult situation and plan for future projects. While the assets of SigEp chapters vary from multi-million dollar chapter homes to small bank accounts for newly formed AVCs, the principles and practices for effectively managing assets remain very much the same.
The following AVC officers and directors hold the primary responsibility for managing the assets of the corporation:
- AVC treasurer
- AVC vice president of housing
For housed chapters, one of the largest and most visible assets is the chapter home. For these chapters, it is vital that the AVC have a vice president of housing, who is responsible for maintaining and managing the facility, while preparing for future improvements. AVCs not responsible for managing property may consider appointing a vice president of housing to plan for future housing opportunities.
Both housed and non-housed SigEp chapters should have an AVC treasurer responsible for the fiscal health of the AVC and chapter.
The president and secretary of the AVC both play supporting roles in ensuring proper management of all assets.
AVCs that excel in managing assets do the following:
- Ensure that a vice president of housing and treasurer are engaged and supported by a housing committee.
- Understand and utilize the Chapter Investment and Equity Management Funds.
- Grow chapter-specific funds established with the SigEp Educational Foundation.
- Have a signed Asset Protection Agreement to protect chapter and AVC assets.
- Maintain separate accounts and financial books for AVC and chapter assets.
- Monitor AVC and chapter financial stability, while planning for future needs.
- Conduct a yearly audit of AVC and chapter finances.
- Ensure the chapter house is properly managed and maintained.
- Utilize SigEp National Housing resources.